EyePoint, Harrow Health ImprimisRx form commercial alliance for DEXYCU » 08:0008/0408/04/20
EyePoint Pharmaceuticals (EYPT) and ImprimisRx, a wholly-owned subsidiary of Harrow Health (HROW) announced the signing of a commercial alliance for the joint promotion of DEXYCU 9% for the treatment of post-operative inflammation following ocular surgery in the U.S. Under the terms of the commercial alliance, ImprimisRx will deploy its sales specialists and their inside sales team to promote DEXYCU to ophthalmologist, hospital, and ambulatory surgical center customers beginning immediately. ImprimisRx will initially focus on accounts currently purchasing Tri-Moxi and will be prioritizing its Tri-Moxi resources to support DEXYCU moving forward. EyePoint will be responsible for the marketing, selling, pricing, manufacturing, and contracting for DEXYCU while also seeking additional volume-based agreements with ASCs and integrated health care networks to expand patient access. ImprimisRx will be entitled to receive a commission on the incremental sales that exceed pre-specified volume targets. EyePoint will retain all commercial rights for DEXYCU outside of the U.S.
|Over a week ago|
Harrow Health announces publication of study on ImprisRx's eyedrops » 07:4007/1307/13/20
ImprimisRx announced the…
ImprimisRx announced the findings from a randomized contralateral eye study comparing patient outcomes and preferences for a combination therapy with individual eye drop medications after ocular surgery. The prospective study was conducted at a single site where patients underwent cataract surgery with both eyes and each eye was randomly selected for the test and control group. Subjects were evaluated at day 1, 15 and 30 measuring visual acuities, refraction, intraocular pressure, macular thickness, patient pain and overall patient satisfaction. According to the study, the ImprimisRx combination drop showed similar health outcomes to multiple separately dosed drops, and that the combination drop was unanimously preferred by patients as it was easier to manage. The results of the study were recently published in Clinical Ophthalmology, Volume 14, 2020, a peer-reviewed journal focused on the clinical advancements in ophthalmology. The study followed 33 patients who underwent cataract surgery and received the combination drop in one randomly selected eye, while the other eye received the same individual eye drop medications post-surgery. It was noted by the investigator, "Enrollment for this study was relatively slow, as it was difficult to find eligible patients willing to use the three different drops instead of the combination drop; the latter is the standard of care in our clinic."
|Over a month ago|
Harrow Health files $100M mixed securities shelf 17:3407/0207/02/20
Harrow Health to join Russell 2000, 3000 Index » 07:4506/2906/29/20
Harrow Health announced…
Harrow Health announced that it is set to join the small-cap Russell 2000 Index and the broad-market Russell 3000 Index at the conclusion of the 2020 Russell indexes annual reconstitution, effective after the US market opens this morning, according to a preliminary list of additions posted June 5.
ImprimisRx's Klarity-C formulation available for prescriptions by optometrists » 07:4906/1806/18/20
ImprimisRx announced its…
ImprimisRx announced its Klarity-C preservative-free formulation may now be prescribed by Florida's nearly 2,000 optometrists as a result of the Florida Board of Optometry's recent additions to its Formulary of Topical Ocular Pharmaceutical Agents. Klarity-C, which has been prescribed for thousands of Americans in all 50 states, was recently recognized at a Best of Saturday Sessions presentation at the 2020 ASCRS Annual Meeting in a presentation entitled "Efficacy of Topical 0.1% Cyclosporine in Chondroitin Sulfate Ophthalmic Emulsion in Patients with Dry Eye". Klarity-C, which is produced according to the highest federal manufacturing standards at the ImprimisRx FDA-registered outsourcing facility, has been one of ImprimisRx's fastest growing topical formulations.
|Over a quarter ago|
ImprimisRx announces exclusive agreement with Doxy.me for telemedicine services » 07:3703/2403/24/20
Harrow Health and…
Harrow Health and ImprimisRx announced that they have entered into an exclusive agreement with Doxy.me, a full-service telemedicine solution. This agreement will provide all ImprimisRx ophthalmology, optometry, and wellness practices with the Clinic level Doxy.me telemedicine solution at no charge. Doxy.me is one of the largest telemedicine software solutions in the world, providing video, audio and text through which patients and healthcare providers can seamlessly communicate remotely. The agreement provides unique benefits to ImprimisRx prescribers and their patients: A user-friendly platform using a computer, tablet, or mobile phone, enabling access to care in minutes; Patients "see" their doctor from anywhere by clicking a web link, taking them directly to their doctor's "virtual waiting room"; Telemedicine is generally covered by insurance; patients may also elect to pay out of pocket using built-in credit card payment options; Doxy.me is HIPAA compliant - no patient data is stored and video sessions are encrypted; Remote file sharing is easy between patient and healthcare provider; Image capturing feature aides in diagnosis; Prescriptions can still be delivered to patients from ImprimisRx's mail-order pharmacy, limiting the need for in-person interaction for at-risk patients; Recent changes to healthcare regulations now allow for telemedicine services to cross state lines; doctors can treat patients in need, regardless of their state of residence. Additionally, rapidly expanding parity laws require that insurance companies reimburse providers for telemedicine visits at the same rate as an in-office visit.
Harrow Health appoints Teresa Sparks to board of directors » 07:4803/1703/17/20
Harrow Health announced…
Harrow Health announced the appointment of Teresa Sparks to its Board of Directors.As of March 15, 2020, Stephen G. Austin, who has served as the Harrow Health Audit Committee Chairman since 2012, is resigning and Teresa Sparks will assume the role of Audit Committee Chairwoman. Sparks is the CFO and EVP of Envision Healthcare.
Harrow Health expects Q1 revenue 'slightly ahead' of Q4 » 07:4303/1303/13/20
Two est. $14.91M. The…
Two est. $14.91M. The company said, "While we achieved our gross margin target a year ahead of schedule, we are presently about six to twelve months behind on revenue targets. March has always been our best month and this March looks to be another record, especially after just hitting another record week of revenue. Barring anything unforeseen, we expect net revenues in the first quarter of 2020 to be slightly ahead of where we finished in the fourth quarter 2019, and to grow further over the remaining part of the year. On revenue growth, we have multiple new drivers that may allow us to meet or exceed our 2021 revenue targets, including revenue contribution from new products we're launching this year, new product supply agreements, the addition of revenue from acquired or in-licensed FDA-approved products, and/or potential pass-through payment for a key high volume ophthalmic surgical product. We anticipate adjusted EBITDA continuing to increase over the coming quarters as revenues bounce back and accelerate. We will continue to target gross margins of 70%, expecting some slight volatility in that metric as new formulations, equipment and personnel are added to our production queue this year. We still believe we are positioned to reach our operating margin target during 2021."
Harrow Health says not expecting disruptions due to COVID-19 concerns » 07:4103/1303/13/20
The company said,…
The company said, "The company is not expecting disruptions in its business or supply chain as a result of the recent COVID-19 virus concerns in the US and around the world. The company has double checked inventories and its sources of key active pharmaceutical ingredients and other materials. It believes that it has ample supplies, and access to supplies, for the duration of 2020 and, in most cases, into 2021. In addition, the company has been in contact with its insurance provider and believes it has adequate coverage through its various risk management policies that could help supplement any losses in the unlikely event a potentially recoverable claim was to occur. Every ophthalmic product ImprimisRx dispenses is tested for sterility, endotoxin, and other contaminants as is required under the highest federal drug production standards. The company has also messaged statements of confidence regarding our business continuity to our customers, employees and other stakeholders."
Harrow Health reports Q4 EPS 10c, two est. 5c » 07:4003/1303/13/20
Reports Q4 revenue…
Reports Q4 revenue $12.6M, two est. $13.66M. Mark Baum, CEO of Harrow Health, commented, "During 2019, we plowed the ground for the next leg up for the company and our shareholders. We own a powerful and valuable group of businesses, all with significant milestones expected in 2020. Operationally, in Q4 we hit the ball out of the park on gross margin - delivering on our target a year ahead of schedule. New equipment coming online in a few weeks and additional efficiencies we expect shortly should secure the gross margin targets we promised to deliver going forward. We have numerous ways to meet or even exceed expectations on revenue and are catching up quickly. And financially, we are making money; with record-highs in adjusted EBITDA and cash flow from operations during the fourth quarter - and we still have no interest in or need to sell Harrow stock to raise capital. All of these items, and much more, are discussed in our Letter to Stockholders."